Faraday Copper (TSE:FDY) Trading Up 0.8% - Here's What Happened

Key Points

• Faraday Copper's stock price increased by 0.8% to C$1.26, with trading volume dropping significantly to 39,777 shares, compared to an average of 211,142 shares.
• Analysts at TD Securities raised their target price for Faraday Copper from C$1.25 to C$1.50 and assigned a "buy" rating, contributing to a current average rating of "Buy" for the stock.
• Faraday Copper focuses on advancing its flagship Copper Creek Project in Arizona, which features a significant porphyry copper deposit located northeast of Tucson.

Faraday Copper Corp. (TSE:FDY - Get Free Report) shares shot up 0.8% during trading on Thursday . The company traded as high as C$1.27 and last traded at C$1.26. 39,777 shares were traded during mid-day trading, a decline of 81% from the average session volume of 211,142 shares. The stock had previously closed at C$1.25.

Wall Street Analyst Weigh In

Separately, TD Securities increased their target price on Faraday Copper from C$1.25 to C$1.50 and gave the company a "buy" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of C$1.50.

Faraday Copper Price Performance

The firm has a market cap of C$275.62 million, a P/E ratio of -13.40 and a beta of 1.62. The stock has a 50 day moving average of C$1.12 and a 200 day moving average of C$0.91.

About Faraday Copper

Faraday Copper Corp. is a Canada-based exploration company. The Company is focused on advancing its flagship copper project in Arizona, United States. The Company's projects include Copper Creek Project and Contact Copper Project. The Copper Creek Project is a three-kilometer-long porphyry copper deposit located in Pinal County, less than two hours northeast of Tucson, Arizona.